LIPA, Batangas -- Taiwan's New Kinpo Group said Wednesday it planned to nearly double its workforce in the Philippines, as it sees revenues from its electronic parts factories reaching $1 billion by 2020.
The company which operates one of the world's largest calculator factories hopes to hire 8,000 workers, including close to 1,000 engineers, bringing its workforce to 18,000 said NKG CEO Simon Shen.
The factory in this town north of the capital can produce 35 million to 55 million calculators per year, Shen said, adding that depending on demand, the company might also produce smartphone parts locally.
NKG's clients include Casio, Texas Instruments and Chinese electronics giant Xiaomi, whom they produce parts for its smartphones, air purifiers and rice cookers, have enabled the company to build a cult following.
"We expect to double revenues. We need more people to join us. Filipino workers are very skilled," Shen said in an exclusive interview with ANC's The Boss.
Filipino workers are valued for their English proficiency and sense of teamwork, he said.
"The Philippines is a very good site for us," he said, adding that he wants to transform the country into a manufacturing hub.
The country must be "very competitive" to attract foreign investments, Shen said, when asked what he thought about the government's plans to revise perks for investors.
If incentives are removed, Shen said, "We need to change our business model."